See piece below from The Chicago Tribune. Note margin hikes for Au,Ag and Cu. Last 3 paras spell out what a speculator has to stump up to play the game.
PASTE
CME Group raises gold, silver and copper margins Reuters
7:23 a.m. CDT, September 26, 2011 Higher CME Group collateral requirements for trading in gold, copper, and silver futures -- which all plunged in trading last week, go into effect today.
Gold margins are being raised by 21 percent, silver margins by 16 percent, and copper margins by 18 percent, effective at the close of trading Monday, CME said in an email after trading closed Friday.
Following the change, speculative investors in the benchmark 100-troy ounce gold contract must put up $11,475 to open a position and maintain $8,500 of that to keep it overnight. Producers and consumers of the precious metal must put up $8,500 to open a position, and the same figure to hold it overnight.
In silver, speculative traders must put up $24,875 to trade a 5,000-ounce contract. The cost to hold a contract overnight was lifted to $18,500.
Copper speculators must post $6,750 to open a contract and $5,000 to hold it overnight.
